Bajaj’s EV business drove in the maximum growth for the brand.
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Bajaj’s EV business drove in the maximum growth for the brand.
Indian two—and three-wheeler major Bajaj Auto reported net profit of ₹2,096 crores, a 5% growth over ₹1,988 crore it earned during the corresponding period last year. The company's total income stood at ₹13,015 crores during the quarter.
Operating revenues climbed 6% at ₹12,584 crore for the three months ending June 2025, up from ₹11,928 crores during Q1 of last year.
Export business proved particularly robust, with two-wheeler shipments to overseas markets growing 14% YoY to reach 4,19,447 units - a record performance for the company. This strong international demand helped offset weakness in the home market, where domestic two-wheeler sales fell 9% to 5,29,344 units during Q1.
The standout performer was Bajaj's electric vehicle (EV) division, which now represents more than a fifth of the company’s domestic revenues - a substantial increase from the low teens percentage recorded in the same quarter last year.
The company's Chetak electric scooter has been particularly successful, with retail volumes more than doubling over the previous year’s sales. Bajaj claims its electric scooter sales accounted for half of the entire industry's volume growth during the quarter.
The company's premium motorcycle brands, KTM and Triumph, sold more than 25,000 bikes domestically, marking 20% annual growth. Bajaj expanded this premium range during the quarter with the launch of the KTM Enduro R and Triumph Scrambler 400XC models.
Operating margins came under some pressure, with the EBITDA margin declining 50 basis points quarter-on-quarter to 19.7%, primarily due to weaker dollar exchange rates. However, an improved product mix and operational efficiencies helped mitigate the impact of rising commodity costs.
The company maintains a robust financial position with surplus funds of ₹16,726 crores. During the quarter, Bajaj injected ₹300 crore into its credit arm to support business expansion and ₹1,525 crore into its Netherlands-based international holding company to partially finance the KTM Austria acquisition.
Towards the end of Q1, Bajaj faced supply disruption issues due to shortages of rare earth magnets needed for EV production. Despite these challenges, the company’s management highlighted how strong export performance and growing electric vehicle sales helped counterbalance weaker domestic motorcycle demand.
The company continues to focus on three strategic priorities – electrification, premium market expansion, and export growth as it navigates the evolving automotive landscape.
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